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Novak: Russian Oil Exports Will Decline 16.4% year-on-year in 2020

Adel 23 October, 2020 3:57 pm Market Update

Russian Energy Minister Alexander Novak told the Russian State Duma, the lower house of parliament, today, Friday, that Russian oil exports are expected to decrease in 2020 by 16.4% compared to last year, to 225 million tons.

He added that Russia’s oil production this year is expected to reach 507 million tons, down from a planned level of 558-560 million tons.

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